Forensic Accounting and Financial Shenanigans Detection
Description
This volume demystifies the mechanics of financial shenanigans or earnings management (EM) in the interests of investors and other stakeholders who are affected by corporate fiascos. It brings extensive real-world experience of forensic accounting and analytics capabilities to examine "financial hazards," how they inevitably result in financial and corporate blowups, and what lessons we can draw from them, such as those of Enron, WorldCom, Satyam Computers, Kingfisher Airlines, Lehman Brothers, and of late IL&FS, Silicon Valley Bank (SVB), and many more.
The book decodes:
- The nuances and intricacies of forensic accounting;
- Revenue, expense, and assets manipulation;
- Identification of "red flags" and quantitative analysis;
- Fraud prevention mechanics.
Richly illustrated with tables, figures, and learning tools, this volume will be indispensable for individuals, business managers, and management students pursuing courses related to forensic accounting, financial shenanigans, and financial ethics. It will also be an important resource for executive and management development programmes (EDPs & MDPs), as well as professionals, corporates, entrepreneurs, government officials, academicians, and researchers looking for a quick refresher on financial manipulations.
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Person
Sandeep Goel is Senior Professor of Accounting and Finance, and Corporate Governance at Management Development Institute (MDI), Gurgaon, India. He holds two doctorates, one in Finance; and another in Accounting from the Faculty of Management Studies, University of Delhi. He completed his bachelor's with Hons. and master's degrees in Commerce with specialisation in Finance from Shri Ram College of Commerce, and the Department of Commerce, Delhi School of Economics, University of Delhi, respectively. He has three decades of industry and academic experience across various organisations and institutions of repute, including the Shri Ram Group, the University of Delhi, and MDI Gurgaon. He sits as Independent Director on the Board of Machino Plastics Ltd., Gurugram, a Suzuki JV. He is Visiting Professor to the Faculty of Management, University of Lodz, Poland, and Aix-Marseille Graduate School of Management - IAE AIX - Marseille University, France. He is Management Trainer and Consultant to organisations like Maruti Suzuki, Canara Bank, JK Tyre, PFRDA, NPCI, IRS, ITS, FIA Business School (Brazil), Bata, Encore, Federal-Mogul Goetze (India) Ltd., SOS Village International, Cairns India, National Banking Institute (Nepal), Druk Holdings (Bhutan), UltraTech Cements, ONGC, and many more. He is a prolific writer and has authored more than 15 books and published over 100 research articles and cases in national and international journals of repute. He has been conferred with the Award for Excellence in Teaching, 2023-24, 2015-16, and Award for Excellence in Research, 2015-16 at MDI.
Content
1 Forensic accounting: The introduction 2 Financial shenanigans/earnings management: Concept, motives and practices 3 Forensic analytics: Tools and techniques 4 Financial shenanigans analyses and discussion 5 Detection and prevention of financial frauds: How to smell a rat? 6 Corporate fiascos 7 Caselets
